Chicagoland Real Estate Market Update March 7-13

Here is our weekly look at the Real Estate market in the 77 communities of Chicago combined with nearly 300 suburbs of Chicago. The first chart compares the number of listings to the number of sales over the past week for 2008, 2007 and 2006. Keep in mind that things started to slow down roughly mid to end of 2006 and really slow down in 2007. You can compare this to last week here. The second chart looks at total Residential Inventory. What we’re seeing here is that there is so much more for sale compared to last year before. What I like is that the # of listings that came “on market” this past week is down compared to the past two years. We need to see this especially when you look at the other statistic that the # of solds is down as well. So listings # down is good…..sold # down is bad. We need to get a better balance. Things are looking good out there for my buyers. For all you sellers out there keep up the good fight. Would love to hear your comments and I encourage you to subscribe to my feeds (large orange icon in upper right corner) or subscribe via email. Let’s keep the conversation going and see if we can’t get things moving out there together.  Best Wishes!